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U.S. Steel (X) Reports Q2 Earnings: What Key Metrics Have to Say
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United States Steel (X - Free Report) reported $5.01 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 20.4%. EPS of $1.92 for the same period compares to $3.86 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.94 billion, representing a surprise of +1.32%. The company delivered an EPS surprise of +3.23%, with the consensus EPS estimate being $1.86.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how U.S. Steel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Steel Shipments in Tons - Tubular: 111 Mmt compared to the 127.42 Mmt average estimate based on six analysts.
Average Steel Price per Ton - Tubular: $3,493 versus the six-analyst average estimate of $3,338.83.
Average Steel Price per Ton - USSE: $965 compared to the $933.86 average estimate based on six analysts.
Average Steel Price per Ton - Flat-rolled: $1,088 versus $1,126.92 estimated by six analysts on average.
Steel Shipments in Tons - Mini Mill: 587 Mmt versus 667.26 Mmt estimated by six analysts on average.
Steel Shipments in Tons - U.S. Steel Europe: 1034 Mmt versus the six-analyst average estimate of 1019.52 Mmt.
Net sales- Mini Mill: $788 million versus $780.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -20% change.
Net sales- Flat-rolled: $3.05 billion compared to the $2.84 billion average estimate based on six analysts. The reported number represents a change of -21.2% year over year.
Net sales- USSE: $1.04 billion versus the six-analyst average estimate of $968.62 million. The reported number represents a year-over-year change of -22.8%.
Net sales- Tubular: $398 million compared to the $431.82 million average estimate based on six analysts. The reported number represents a change of +3.9% year over year.
Net sales- Other Businesses: $3 million versus $6.23 million estimated by three analysts on average.
Net sales- Reconciling Items and Eliminations: -$269 million compared to the -$146.47 million average estimate based on three analysts.
Shares of U.S. Steel have returned +0.2% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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U.S. Steel (X) Reports Q2 Earnings: What Key Metrics Have to Say
United States Steel (X - Free Report) reported $5.01 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 20.4%. EPS of $1.92 for the same period compares to $3.86 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.94 billion, representing a surprise of +1.32%. The company delivered an EPS surprise of +3.23%, with the consensus EPS estimate being $1.86.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how U.S. Steel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Steel Shipments in Tons - Tubular: 111 Mmt compared to the 127.42 Mmt average estimate based on six analysts.
- Average Steel Price per Ton - Tubular: $3,493 versus the six-analyst average estimate of $3,338.83.
- Average Steel Price per Ton - USSE: $965 compared to the $933.86 average estimate based on six analysts.
- Average Steel Price per Ton - Flat-rolled: $1,088 versus $1,126.92 estimated by six analysts on average.
- Steel Shipments in Tons - Mini Mill: 587 Mmt versus 667.26 Mmt estimated by six analysts on average.
- Steel Shipments in Tons - U.S. Steel Europe: 1034 Mmt versus the six-analyst average estimate of 1019.52 Mmt.
- Net sales- Mini Mill: $788 million versus $780.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -20% change.
- Net sales- Flat-rolled: $3.05 billion compared to the $2.84 billion average estimate based on six analysts. The reported number represents a change of -21.2% year over year.
- Net sales- USSE: $1.04 billion versus the six-analyst average estimate of $968.62 million. The reported number represents a year-over-year change of -22.8%.
- Net sales- Tubular: $398 million compared to the $431.82 million average estimate based on six analysts. The reported number represents a change of +3.9% year over year.
- Net sales- Other Businesses: $3 million versus $6.23 million estimated by three analysts on average.
- Net sales- Reconciling Items and Eliminations: -$269 million compared to the -$146.47 million average estimate based on three analysts.
View all Key Company Metrics for U.S. Steel here>>>Shares of U.S. Steel have returned +0.2% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.